Insurance Platform Market 2023 Global Trends, Type, Application, Drivers and Trends by Forecast 2030

The global Insurance Platform Market size is estimated to be worth USD 81.7 billion in 2023 and is projected to reach USD 156.0 billion by 2028 at a CAGR of 13.8% during the forecast period, according to a new report by MarketsandMarkets™. This remarkable expansion is driven by a confluence of factors. First and foremost, the insurance industry's relentless pursuit of digitization and automation is reshaping the insurance landscape, reducing operational costs, and enhancing customer experiences.

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Insurance Platform Market Dynamics:

Drivers:

1. Rise of data analytics and big data.
2. Increasing demand for digital insurance channels.
3. Need for cloud-based digital solutions.

Restraints:

1. Complexity involved with the integration of insurance platforms with legacy systems.
2. Data Security and Privacy Concerns.
3. Lack of Standardization

Opportunities:

1. Growth of the digital economy.
2. Advancements in the development of digital product innovations.
3. Integration with IoT and sensor technologies for real-time data collection and visualization.

List of Key Players in Insurance Platform Market:

• Microsoft (US)
• Adobe (US)
• Salesforce (US)
• IBM (US)
• Oracle (US)
• SAP (Germany)
• Pegasystems (US)
• Accenture (Ireland)
• DXC Technology (US)
• and Cognizant (US)

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By offering, consulting and advisory services segment to register for the largest market share during the forecast period

Insurance platform consulting and advisory services play a pivotal role in guiding insurers through the ever-evolving landscape of digital transformation. These services, driven by the need for insurers to adapt to changing customer expectations and industry dynamics, offer expert insights and strategies. Growth in this sector is fueled by the increasing demand for customized digital solutions, regulatory compliance, and the pursuit of operational excellence. Key trends include harnessing advanced technologies like AI and blockchain to enhance underwriting and claims processing, as well as a strong emphasis on data analytics to optimize customer experiences.

By insurance type, cybersecurity insurance segment is poised for the fastest growth rate during the forecast period

Cybersecurity insurance is a rapidly evolving segment within the insurance platform market, addressing the need for protection against digital threats. It's driven by the expansion of cyberattacks and data breaches across industries, compelling businesses to safeguard their operations. Moreover, trends like increased demand for ransomware and social engineering coverage, along with stricter regulatory requirements, are reshaping the cybersecurity insurance landscape. As companies recognize the urgency of safeguarding their digital assets, this insurance type is poised for substantial growth within the broader insurance platform market.

By region, Asia Pacific to account for highest growth rate during forecast period

The Asia Pacific insurance platform market is witnessing remarkable growth, fueled by several key drivers and trends. Rapid urbanization and an expanding middle class are boosting insurance demand across the region. Moreover, the COVID-19 pandemic has accelerated the adoption of digital solutions, propelling insurers to invest in advanced insurance platforms for improved customer service and streamlined operations. Data analytics and artificial intelligence are being harnessed to enhance underwriting precision and detect fraudulent claims. Regulatory changes, particularly in markets like China and India, are promoting innovation and opening up opportunities for insurtech firms. As customer expectations evolve, insurers are embracing customer-centric approaches, providing personalized experiences through digital channels.

Some major players in the insurance platform market include Microsoft (US), Adobe (US), Salesforce (US), IBM (US), Oracle (US), SAP (Germany), Pegasystems (US), Accenture (Ireland), DXC Technology (US), and Cognizant (US).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

Chaos Engineering Tools Market - Growth, Trends, Industry Outlook, Growth Opportunity, Business Growth And Forecast (2023 - 2030)

The global Chaos Engineering Tools Market size is expected to grow to USD 2.9 billion by 2028 from USD 1.9 billion in 2023 at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period, according to a new report by MarketsandMarkets™. 

Modern IT systems have become highly complex, often involving microservices, containers, and cloud-based infrastructure. Chaos engineering tools are essential for testing and improving the resilience of these systems, which is expected to create demand during the forecasted period.

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Chaos Engineering Tools Market Dynamics:

Drivers:

1. Need for observability tools for managing distributed systems.
2. Gain real-time insights into system behaviour.
3. Measure the effects of injected failures with unprecedented accuracy.

Restraints:

1. Privacy and security concerns.
2. Raise valid apprehensions about data privacy and system security.

Opportunities:

1. Integration with monitoring and observability tools.
2. Enables quicker detection and response to issues.

List of Key Players in Chaos Engineering Tools Market:

• Microsoft (US)
• AWS (US)
• OpenText (US)
• Virtusa (US)
• Tricentis (US)
• Harness (US)
• Nagarro (Germany)
• PagerDuty (US)
• Cavission Systems (US)
• Gremlin (US)

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By component, the services segment is expected to grow at the highest CAGR during the forecast period.

Chaos engineering is a relatively new discipline, and many organizations are still in the early stages of adopting it. As a result, there is a strong demand for professional services in the chaos engineering tools market. As organizations adopt chaos engineering practices, they often encounter hurdles related to strategy development, tool selection, implementation, and result interpretation. Professional services in this context offer invaluable guidance and expertise to help businesses tailor chaos engineering to their specific needs and goals. These services can assist in designing controlled experiments, identifying potential points of failure, and providing a structured framework for assessing and improving system resilience.

By deployment mode, the public cloud segment holds a larger market size during the forecast period.

The adoption of chaos engineering tools on public cloud platforms has seen remarkable growth, driven by cloud providers' scalability, flexibility, and cost-efficiency. For instance, Netflix, a pioneer in chaos engineering, utilizes Amazon Web Services (AWS) for its experiments, taking advantage of AWS's extensive global infrastructure to test system resilience. By leveraging the scalability and ease of deployment that public clouds offer, organizations can proactively identify vulnerabilities, improve incident response strategies, and ensure their services remain robust despite unexpected disruptions. This adoption trend aligns with the growing significance of public cloud environments in the chaos engineering environment, facilitating the continued evolution of these crucial practices.

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By Region, Asia Pacific is expected to grow at the highest CAGR during the forecast period.

Asia Pacific is home to some of the world's leading ICT companies, such as Alibaba, Tencent, and Baidu. These companies are investing heavily in chaos engineering tools to improve the reliability and resilience of their systems. The Asia Pacific governments are increasingly recognizing the importance of digital transformation. For instance, Singapore’s “Smart Nation” and South Korea's “Digital New Deal” emphasize digital transformation, providing fertile ground for chaos engineering adoption. Technological trends, such as microservices, AI, ML, and DevOps, are also driving the adoption of chaos engineering tools in the Asia Pacific region. Chaos engineering tools can be used to test microservices-based applications and ensure they are reliable and resilient. AI and ML can be used to develop more sophisticated chaos engineering tools.

Some of the key players operating in the chaos engineering tools market are – Microsoft (US), AWS (US), OpenText (US), Virtusa (US), Tricentis (US), Harness (US), Nagarro (Germany), PagerDuty (US), Cavission Systems (US), and Gremlin (US).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

Multi-cloud Security Market Analysis, Key Growth Drivers, Challenges, Leading Key Players Review, Upcoming Trend to 2030

The global Multi-cloud Security Market size is projected to grow from an estimated USD 4.4 billion in 2022 to USD 10.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2022 to 2027. Rising cyberattacks on multi-cloud deployments and growing initiatives by the government for multi-cloud usage are some of the factors driving the market growth.

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By organization size, large enterprises to account for a larger market size during the forecast period

According to the Organization for Economic Co-operation and Development (OECD), large enterprises employ more than 250 people. Large enterprises have rapidly started adopting multi-cloud systems over traditional on-premises methods. These large enterprises have various department verticals performing different operations, which makes it difficult for the organization to maintain the security posture of the entire organization. The pandemic led to organizations rapidly adopting the work-from-home (WFH) trend. Large enterprises increasingly deploy cloud-based solutions due to increased scalability and lower maintenance costs. Organizations are increasingly using multi-cloud deployments with benefits including minimizing vendor lock-in, leveraging best options as per requirements, and meeting regulatory requirements. According to IBM's report Cloud's next leap, the percentage of respondents claiming a single public cloud as their primary archetype dropped from 16% in 2019 to 2% in 2021, with the growing use of multi-cloud deployments. Organizations are increasingly adopting multi-cloud security solutions to maintain the vital security posture of multi-cloud deployments.

By vertical, BFSI to account for the largest market size during the forecast period

BFSI consists of banking, financial services, and insurance. Despite the size and business mix, most financial institutions have increasingly started adopting cloud and multi-cloud computing solutions. There are cost benefits when scaling, deploying new services, and innovating. Banks and financial institutions are increasingly moving their data to the cloud environment amid the COVID-19 outbreak. There are security and resiliency benefits that can be difficult and expensive to replicate on-premises, especially for smaller institutions trying to keep pace with the rapidly changing standards. However, as the industry continues to embrace cloud services, regulators are becoming more aware of the challenges associated with cloud computing, especially those that could expose financial institutions to systematic risks potentially undermining the financial system's stability. With the widespread adoption of cloud computing platforms, finance and insurance companies must meet the highest security standards set by monetary regulatory authorities. There is a constant need for proper security measures and vigilance to protect organizations from potential cloud attacks on multi-cloud deployments in the vertical. Multi-cloud security solutions are being implemented to help maintain the organization's security. Different government mandates, such as the Personal Information Protection and Electronics Document Act (PIPEDA) and PCI DSS, necessitate financial institutions to comply with these standards. There is an increasing need for cybersecurity solutions and services in the BFSI vertical to combat the rising number of physical and cyber-attacks on critical infrastructures.

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By region, North America to account for the largest market size during the forecast period

North America is expected to be the largest contributor in terms of the market size in the global multi-cloud security market. It is one of the most advanced regions in terms of security technology adoption and infrastructure. The region is experiencing increasing digitalization in the recent years. Organizations are increasingly shifting their systems from the on-premises environments to the cloud infrastructure. The increasing digitalization in the region has also increased the risk of cyberattacks on organizations. This factor has prompted organizations to adopt multi-cloud security solutions. Additionally, various organizations regulate the operation of the multi-cloud security market. National Institute of Standards and Technology (NIST) develops cybersecurity standards, guidelines, best practices, and other resources to meet the needs of the US industry, federal agencies, and the broader public. Its activities range from producing specific information that organizations can put into practice immediately to longer-term research that anticipates advances in technologies and future challenges. For instance, NIST is establishing a Multi-Cloud Security Public Working Group (MCSPWG) to research best practices for securing complex cloud solutions involving multiple service providers and multiple clouds. The region also has the presence of major vendors operating in the multi-cloud security market, which acts as a driver for the growth of the market in the region.

Key Players

The major vendors in the multi-cloud security market are Microsoft (US), VMware (US), Rackspace (UK), Check Point (Israel), F5 (US), Amazon Web Services (US), Fujitsu (Japan), Entrust (US), Google Cloud (US), Cloudflare (US), IBM (US), Cloud4C (Singapore), Proofpoint (US), Lacework (US), BMC Software (US), SonicWall (US), Atos (France), Imperva (US), Micro Focus (UK), Aqua Security (Israel), Aviatrix (US), Saviynt (US), Tufin (US), Distology (UK), Fortanix (US), Illumio (US), Fidelis Cybersecurity (US), Valtix (US), Orca Security (US), Ascend Technologies (US), Ermetic (US), Caveonix (US), and AccuKnox (US).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Cloud Security Market Analysis by Size, Share, Growth, Trends up to 2030

The global Cloud Security Market size is projected to grow from USD 40.7 billion in 2023 to USD 62.9 billion by 2028 at a CAGR of 9.1% during the forecast period. The cloud security market experienced substantial growth due to the rising adoption of multi-cloud environments, the expansion of DevSecOps practices, increased utilization of AI and ML for cloud security, and the growing trend of BYOD and CYOD, which led to an increased demand for cloud security solutions.

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By vertical segment, the retail & eCommerce vertical will grow at the highest CAGR during the forecasted period.

The retail and eCommerce industry is experiencing the highest CAGR in the cloud security market due to the increased adoption of cloud technologies for digital transformation. Data protection has become a priority, with more sensitive customer data and financial transactions being processed in the cloud. Retailers also face a higher risk of cyberattacks and data breaches, leading to the demand for advanced cloud security solutions. The COVID-19 pandemic has further accelerated the shift towards online shopping, boosting the adoption of cloud technologies in this sector. To tap into this growth opportunity, cloud security providers are customizing their solutions to meet the specific needs of retail and eCommerce, ensuring seamless integration and compliance with industry regulations. Thus, the retail and eCommerce segment is projected to have the highest CAGR during the forecast period.

By Type, Visibility and Risk Assessment holds the largest market size during the forecast period.

By type, Visibility and Risk Assessment hold the largest market size in the cloud security market due to their critical role in enhancing overall cloud security. As cloud environments grow in complexity and scale, organizations face challenges in effectively identifying and managing potential security risks. Visibility solutions provide real-time insights into cloud assets, configurations, and activities, enabling businesses to monitor and detect any suspicious behavior or vulnerabilities proactively. On the other hand, risk assessment tools help organizations assess the security posture of their cloud infrastructure, applications, and data. By conducting thorough risk assessments, businesses can prioritize security measures, allocate resources efficiently, and proactively address potential threats. These capabilities are essential as they empower organizations to stay ahead of evolving cyber threats and maintain a robust security posture in their cloud deployments. The need for comprehensive visibility and risk assessment solutions has grown exponentially as businesses recognize their critical role in safeguarding sensitive data and maintaining compliance with industry regulations.

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Regional Analysis for Cloud Security Market:

Europe holds the second-largest market share in the cloud security market. Europe is prominently advancing in the cloud security market, driven by collaborations, robust governmental initiatives, and increasing cyber threats. With nations like Germany, the UK, and France leading the way, the continent is positioning itself as a major stakeholder in global cloud security, emphasizing stringent data protection laws and public-private partnerships for a resilient cybersecurity ecosystem.

Market Players:

IBM (US), Broadcom (US), Check Point (Israel and US), Google (US), AWS (US), Zscaler (US), Akamai Technologies (US), Forcepoint (US), Fortinet (US), F5 (US), Qualys (US), TrendMicro (Japan), Palo Alto Networks (US), Proofpoint (US), Tenable (US), Netskope (US), Microsoft (US), Cisco (US), Imperva (US), Trellix (US), Rapid7 (US), Skyhigh Security (US), FireMon (US), Sysdig (US), LookOut (US), Fidelis Cybersecurity (US), DataTheorem (US), OpsCompass (US), Tufin (US), Menlo Security (US), Tigera (US), Orca Security (US), Ascend Technologies (US), Secberus (US), Ermetic (Israel), Sonrai Security (US), Wiz (US), Caveonix (US), Banyan cloud (US), and AccuKnox (US) are the key players and other players in the cloud security market.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

Artificial Intelligence Market: 2023 Global Industry Trends, Growth, Share, Size to 2030

According to a research report Artificial Intelligence (AI) Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.8% during the forecast period, to reach USD 1,345.2 billion by 2030 from USD  150.2 billion in 2023. The adoption of artificial intelligence (AI) technology has been remarkable since its introduction, leading to significant growth in the global market.

This growth attributed to the increasing demand for artificial intelligence technologies across diverse industry verticals. Organizations are recognizing the transformative potential of artificial intelligence in improving operational efficiency, enhancing customer experiences, and driving innovation. Artificial Intelligence technology such as machine learning, natural language processing, computer vision, and others are revolutionizing various sectors, including healthcare, finance, manufacturing, and retail. The advancements in AI algorithms, computing power, and data availability are further fueling the growth of the AI market, as businesses seek to leverage the potential of AI to gain a competitive edge in the digital era.

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As per verticals, the healthcare & life sciences segment to grow at highest CAGR during the forecast period

The artificial intelligence market is segmented on verticals into retail & eCommerce, BFSI, Government & Defense, Healthcare & Life Sciences, Telecom, Energy & Utilities, Manufacturing, Agriculture, IT/ITeS, Media & Entertainment, Automotive, Transportation and Logistics and other verticals (Construction, education, and travel and hospitality). As per verticals, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. This industry is experiencing significant growth and is poised to contribute significantly to the global artificial intelligence market. Artificial intelligence applications in healthcare & life sciences includes patient data and risk analysis, medical imaging and diagnostics, precision medicine, drug discovery, and much more. The use of electronic medical records has led to the expansion of patient data, while the risk analysis market benefits from artificial intelligence systems' risk management and predictive analytics capabilities for payers and healthcare providers. These advancements in artificial intelligence technology are driving innovation and transformation within the healthcare sector.

By business function marketing and sales accounts to hold the largest market size during the forecast period

As per business function, marketing and sales segment to hold the largest market size for the artificial intelligence market during the forecast period. With the aid of AI-powered algorithms, businesses personalize their marketing campaigns, target the right audience, and deliver relevant content at the optimal time. Artificial intelligence also enhances sales processes by providing predictive analytics, lead scoring, and automated customer support through chatbots. Furthermore, artificial intelligence enables advanced data analytics and segmentation, optimizing sales funnels and improving conversion rates. The adoption of artificial intelligence in marketing and sales is reshaping how businesses engage with customers, optimize their strategies, and drive revenue growth.

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Regional Analysis:

AI is rapidly expanding across the Asia Pacific region, driven by robust investments from governments, tech giants, and startups. Countries like China, India, and Singapore are leading the way with ambitious AI strategies and initiatives, fostering innovation and research in areas such as healthcare, finance, and manufacturing. Various AI MNC's are investing and expanding their operations in the region.

Japanese Companies are focusing on developing AI-powered robots for a range of applications, from manufacturing to healthcare and eldercare. In June 2021, the Japanese university Aizu used NVIDIA Jetson to nurture robotics talent and artificial intelligence, enabling high confidence for students learning AI and IoT manufacturing. Also, in 2021, the Japanese government launched a EUR 637 million (USD 715.7 million) fund focused on biotechnology, robotics, and artificial intelligence in an effort to strengthen their domestic tech market.

The artificial intelligence market in South Korea is experiencing significant growth, fueled by substantial government investments in AI infrastructure. In January 2023, the government plans to invest approximately USD 215 million over five years to develop artificial intelligence technologies for everyday environments.

Singapore government has been taking various initiatives to promote the development of AI, including the AI for Singapore National Strategy and the Smart Nation initiative.

In ANZ, enterprises are leveraging artificial intelligence for a wide range of applications, including customer service automation, predictive analytics, fraud detection, and supply chain optimization. Also, the AI-powered chatbots and virtual assistants are deployed to improve customer experiences and streamline interactions. Companies use artificial intelligence algorithms to analyze vast amounts of data and extract valuable insights, enabling data-driven decisionmaking. In May 2023, ANZ Banking Group made the strategic decision to establish a dedicated team to explore the applications of generative AI within their operations.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Cloud Security Market 2023 Industry Analysis by Company, Regions, Type and Application, Trends, and Forecasts 2023-2030

The Netherlands has emerged as a significant hub for cloud computing, attracting global cloud service providers and fostering a burgeoning demand for cloud security services. Strategic partnerships and developments in the cloud security landscape exemplify this growth. In April 2023, Censornet’s collaboration with KPN brought robust cloud security solutions to mid-sized businesses in the Netherlands, fortifying their defenses with email security, web security, cloud application security, and multi-factor authentication. Similarly, Sectra’s contract renewal with Dutch medical center Zuyderland in March 2023 introduces cloud-based imaging solutions, catering to the healthcare sector’s escalating need for secure cloud services.

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Moreover, the Dutch Corporate Governance Code’s 2022 update, mandating IT system reliability disclosure in annual reports for listed companies, underscores the significance of IT governance and cloud security. The Dutch Online Trust Coalition (OTC) advocates for standardized security frameworks and regulatory cooperation to address cloud security assurance challenges, emphasizing the importance of accessible reports and a collective approach to enhance the cloud security landscape in the Netherlands.

Key Market Players

IBM (US), Broadcom (US), Check Point (Israel and US), Google (US), AWS (US), Zscaler (US), Akamai Technologies (US), Forcepoint (US), Fortinet (US), F5 (US), Qualys (US), TrendMicro (Japan), Palo Alto Networks (US), Proofpoint (US), Tenable (US), Netskope (US), Microsoft (US), Cisco (US), Impreva (US), Trellix (US), Rapid7 (US), Skyhigh Security (US), FireMon (US), Sysdig (US), LookOut (US), Fidelis Cybersecurity (US), Data Theorem (US), OpsCompass (US), Tufin (US), Menlo Security (US), Tigera (US), Orca Security (US), Ascend Technologies (US), Secberus (US), Ermetic (Israel), Sonrai Security (US), Wiz (US), Conveonix (US), Banyan cloud (US), and AccuKnox (US) are the key players and other players in the cloud security market.

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

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Managed Detection and Response Market Analysis, Key Growth Drivers, Challenges, Leading Key Players Review, Upcoming Trend to 2030

Italian businesses and organizations are becoming increasingly aware of their cybersecurity threats and are looking for ways to mitigate them. Managed Detection and Response (MDR) providers can offer comprehensive security services to help businesses protect their data and systems. Many companies in Italy do not have the in-house expertise to manage their security.

MDR providers can offer businesses access to a team of security experts who can monitor their systems and networks for threats and respond to incidents. MDR can be a cost-effective way for small businesses to improve their security posture. MDR providers can offer businesses access to a wide range of security services at a fraction of the cost of building and maintaining their security team.

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Italy is one of the most targeted countries in Europe by cybercriminals, and the threat landscape is constantly evolving. In Italy, the ransomware attacks are on the rise. According to the Italian National Cybersecurity Agency (ACN), ransomware attacks increased by 150% in Italy in 2022. Another major threat is phishing attacks. Phishing attacks trick users into revealing sensitive information, such as passwords or credit card numbers. Phishing attacks can be done through email, SMS, or social media.

The Italian government is taking steps to address the cybersecurity threat. In 2021, the government established the Agency for National Cybersecurity (ACN). The ACN is an Italian government body with resilience and security tasks in information technology. It also protects national security in cyberspace and ensures coordination between the public entities involved. It pursues the achievement of national and European strategic autonomy in the digital sector, in synergy with the national production system, and through the involvement of the university and research world.

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Key Market Players

The MDR market is led by some of the globally established players, such as CrowdStrike (US), Rapid7 (US), Red Canary (US), Arctic Wolf (US), Kudelski Security (Switzerland), Mandiant (US), SentinelOne (US), Proficio (US), Expel (US), Secureworks (US), Alert Logic (US). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.

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